• expired

$10 for New (Referred) Signup to Up Banking - $5 for Both on Signup, $5 for Both after 5 Transactions


You can earn up to $10 for every mate you invite to Up. Once you’ve qualified you can send invites to your friends' mobiles. After they successfully sign up, you’ll each get $5. Once they make 5 purchases in their first 30 days you'll both receive another $5.

You'll need to be using the latest version of the app.

Up has no monthly fee, no international transaction fees and 2.75% 2.25% 1.85% interest rate with the only condition being 5 card transactions made.

Also has instant Apple and Google Pay provisioning so you can use your $10 before receiving the physical card.

N.B. If you use the Old referral system when you click the Ozbargain referral link you need to include your mobile number in the message.

Conditions of use
Invites will expire automatically if the invitee has not become an Up customer (having passed KYC) after 14 days.

To receive the sign-on bonus, the invite needs to be provided through the Up app and the invite text must explicitly state the bonus amount in Australian dollars. If your email, SMS or other notification does not clearly state the bonus amount, you are not eligible for any bonus.

Conditions for inviters
To enable the sending of invites you must be an active Up customer with a verified email address and have made one or more purchases with Up. You will receive a notification once you qualify. To enable your shareable Hook Up a Mate page, you'll need to also have set up your Upname and have opted to share your profile picture, Upname and the length of time you've been an Upsider.

One bonus payment will be paid to the inviter when the person they invite joins Up and becomes a customer.

An additional $5 bonus payment may be paid if the person invited makes 5 purchases using their Up card or digital wallet in their first 30 days as an Up customer. This additional bonus payment only applies to any invite accepted after 5pm AEDT, 12 December 2019. Invites accepted before this time are not eligible for this additional payment.

Conditions for invitees
One bonus payment will be paid to the invitee when they join Up and become a customer.

An additional $5 bonus payment may be paid if the invitee makes 5 purchases in their first 30 days as an Up customer. This additional bonus payment only applies to any invite accepted after 12pm AEDT, 20 April 2020. Invites accepted before this time are not eligible for this additional payment.

Invite codes
If you have signed up using an invite code or sharing link (which may resolve to an invite code), you will be told what that code or link entitles you to before completion of sign up.

Bonus payments associated with invite codes or links will only be paid on successful sign up and creation of your account and satisfaction of any qualifying criteria.

Invite codes may be cancelled at any time after they are issued.

Last modified 11 June, 2020

Referral Links

Referral: random (850)

$5 for both the referrer and referee. Conditions

Related Stores

Up Bank
Up Bank

closed Comments

  • +4

    Has anyone used Up before? I'm looking to move banks and Up is high on my list.

    • +2

      Yes, but I ended up going with 86400 for savings and ING for everyday.

      • +4

        Can you elaborate on your reasons?
        86400 requires $1k deposit every month to get the interest rate, which can be a hassle.
        On the other hand 86400 has a $100k savings cap for the high interest rate, while up is $50k.

        And why do choose ING for everyday?

        • +2

          ING let's me have more than 2 accounts and rebates ATM and international transaction fees.

          • +1

            @lasterato: More than 2 accounts of the same type? So one can hold two ING everyday account?

          • @lasterato: I prefer NAB + ING. Allows me to keep multiple NAB cards back home when traveling. So if i ever get stuck, i have easy access to money with Smart ATMS + Australia Post network.

            Up has a very intuitive app.

      • +2

        Curious too because I did the opposite - started off 86400 but now use Up as main savings.

        I find it better in every way - just missing the 'multiple balances from other banks' feature is missing.

        • I use ING as my main everyday with 86400 I don't do the 5 tap and pays with it to be able to get the bonus interest.

        • There's an app called Pocketbook that I've found useful for keeping an eye on several bank account balances, from different banks, in the one place. Perhaps it'd be helpful for you too? Thought I'd leave you the link to check it out anyway, just in case: https://getpocketbook.com/.

          (As with everything, on OzBarg & beyond, your mileage may vary - please take the time to review their privacy policy beforehand, & consider your own individual circumstances, etc., & whatever other disclaimers I've forgotten, beforehand.)

      • When I last checked, 86400 didn't have BPay so paying bills was a pain. Up did eventually get it so now it's my main account.

        • this is from the iOS app store listing:
          What’s New
          Version History
          9 Dec 2019 Version 2.6.3
          You can now pay your bills with BPAY using the 86 400 app, as well as search for PayIDs from your phone contacts. And in our next update, you'll be able to save BPAY billers and PayIDs to your address book too.

          • +3

            @andresampras: Yeah, this would be about 6 months after Up implemented it. Too little too late. I emailed them about this and never got a response. You can message Up about bugs/enhancements and they get back to you within hours.

            • +1

              @bui: sorry, didn't mean to upset you. I've only heard about Up and 86400 today.

              • @andresampras: Not upset. Just stating some differences between the two for people still deciding.

                • +1

                  @bui: the only thing you've pointed out is that you got no response from 86400 when you contacted them.

                  for anyone joining today, BPay is available on 86400 and therefore 'too little too late' doesn't apply to them. That's all I was attempting to post, since I was looking at the two app store listings.

                  • +1

                    @andresampras: Customer service is important for some people. Especially for neobanks that have no physical presence.
                    How quickly features are rolled out is also important for some people. Especially for neobanks that are competing on differentiating features.
                    I guess that was my point from the beginning.

                    • @bui: Fair enough. I guess if you're happy with Up that's all that matters.

                      After looking at these neobanks for the last 30mins, I'm not seeing any real benefits (to me) over say a bankwest transaction account. I'm not comfortable as yet with linking multiple bank accounts to one for ease of use, although that does sound very convenient.

                      • +2

                        @andresampras: That's something Up doesn't have yet. One thing that made me switch is having better access to metadata of my transactions, exact time, location and being able to assign these to contacts so you can see all transactions for a single contact.
                        Transactions in my Commbank app for a shared account are so cryptic it takes me ages to figure out the source.

                        • @bui: that does sound good. Maybe I should contact Bankwest about it and see if they reply haha (Given it took them a ton of time and customer pressure to eventually announce apple pay, I'm not holding my breath)

      • +1

        Neobank's in Aus:

        86 400
        Tyro Payments
        Volt Bank

        • Revolut

          • @ToobsAU: These guys don't have a banking lic in Australia yet tho and don't offer any interest on savings.

            • @lasterato: True, good for a travel card though

              • +2

                @ToobsAU: You could just use ING for that. No international transaction fees.

    • +5

      I've been playing around with them for a few days now and I'm pretty impressed with the phone app, the only downside really is that there isn't a web interface just yet, though it's on their roadmap.

      There's no fee for just having the account so you might as well sign up, get your sign on bonus and have a play with it.

    • yes, all works well from the app

    • +3

      I have it right now, it has some pretty good features like being able to label any transaction (Renaming / Tags) for arguably the best transaction clarity of any bank, Round Up (Round up transaction account to an even amount and transfer the change to your Savers)

      Also you can withdraw from your Savers account without any consequences to the interest rate

    • +2

      I'm using Up for my overseas travel expenses (i.e the no overseas transaction fee); for example when I go overseas and want to pay for items or restaurants and they accept card, I'd use Up :)
      Pretty easy to use and I like that I can just transfer the money from my primary bank to Up before I go to the counter to pay.

      Also like seeing the direct Aussie dollar equivalent in my phone's pop up as soon as I pay

    • +1

      Yes it's by far the best experience I've had with bank, but like all Neo banks it's not suitable as a primary bank obviously.

      There's an obvious limit of $50k savings if you're looking for banks to put your money, but I find it incredibly useful for isolating my "splurge" (spend money without worrying) funds from my other savings, and it gives great interest rates to boot!

      You do need to use the card a lot, but after you see how useful the transaction history is, you'll definitely want to.

      • why can't you use it as your primary bank?

        • +2

          To those who are paying mortgage and have offset accounts, I think (not an expert here), it's better to put all your money in the primary bank with the mortgage/loan account. This way, you have less interest from the loan

      • +4

        I’m using Up as my main bank. I just have a NAB card for cash deposits into ATMs and that’s it.

      • +1

        This is what I do. The fact Up rounds up and puts the difference to savings is helpful.

    • +3

      I've got it and I'm looking to shut down all of my other banks and move solely to Up. :)

    • +1

      Yeah, I use it as my main bank

    • +2

      What I like the most is up is how it organises your expenses

    • +1

      Yeah, been on it for ages. Good product, zero hassles so far.

    • +1

      I'm using it. Great product. When you experience a bug they respond quickly and are very helpful. There are very frequent updates to make improvements. I'm particularly looking forward to the upcoming foreshadowed improvement (see their tree published online which shows you what they are working on) that automatically matches expenses and draws upon your savers to meet those expenses. It will make budgeting completely effortless and then I'll probably use them for almost all transaction stuff.

    • +1
      1. Ubank. Reason: interest rate (bonus interest rate, that is).
      2. Macquarie. Reason: No international conversion fees.

      Macquarie also has gift card discounts I think (which I always forget to check and use - I think one is ebay??). The easiest and fastest online signup I've seen!

  • +2

    I got the $10 within a couple of days with the previous 86400 deal.

    • +1

      Oh thanks for reminding me! Need to use my card before the 15th.

  • What's Up?

    badum tish

  • +12

    I've been with UP for over a year now, have all my savings in it and I have had a much better experience than with the Commonwealth Bank app for example. The development team behind it are super transparent and provide updates every few weeks to the app along with detailed blog posts and future roadmaps etc.

    Feel free to reply if you have questions I love this freaking app/bank hey.

    • +5

      The transparency was what really sold it for me.

      Little things like their blogs talking about the vertical card design, making the signup process exceedingly streamlined (which it is!), things like that.

      I really appreciate people and companies that want to make the best possible 'thing', not the most profitable, and it shows here.

      • And I know this post is about the referral process to get more people to sign up, but UP have not spammed me with information about the 'Bring a Mate $5/$10' offer. Other things I am signed up with always hassle me about referrals constantly.

  • +5

    Its 2.25% interest rate and not 2.75%. Atleast this is what i am getting at the moment.

    I am impressed with the mobile app and usually use Apple Pay linked to the account for all purchases. It helps me in tracking purchases based on various category.

    • Updated to 2.25%, as reflected on their pricing page

      • +1

        Richard isn't it better that every financial post comes with disclaimer. Just checked that 86400 seems Chinese bank while upbank is Australian… reliability and coverage under government guarantee scheme may not be similar. Many people burnt in past with investment and last thing we need is to see OzBargain forum perceived as part of it.

        • 86400 have a full ADI (so guaranteed up to $250k as with any other normal deposit-accepting bank). Up uses Bendigo's ADI (so the $250k guarantee is shared across the banks).

  • -1

    Ok thanks. Did it but didn’t include a phone number.

  • Could I able pay youtube international subscription fee using this?

    • +2

      Yes, with no international transaction fee.

  • Damn, missed out on the extra $5. Should've waited when i refered the partner last week

  • +10

    (Referral solicitation in comments is not allowed)

    Uhhhh I never did. I said to anyone requesting a referral from anyone, remember to include your name and number.

  • +1

    Wow, they're not making it easy to get that 2.25% interest rate 'bonus'. You need to do 5 transactions per month and have a maximum account balance of $50K. Otherwise, you're on 0.5% rate! That's pretty poor.

    • +3

      Keep it under 50k and make your 5 purchases with splits at a self serve checkout. Problem solved. If you have more than 50k, put $49999.99 in the Up account and put the rest in the 86400 account and get the same interest rate.

      • +9

        You can actually use BeemIt to send another one of your cards (or a friend) $1 x5 to complete this requirement (though it's probably not considered fair use).

      • And when interest gets paid you go over the limit. Genius.

    • +1

      Open the account, put 50k in it, use the card as your daily coffee/food spend card.


    • +3

      How is 5 everyday transactions not easy?

    • If you're going to jump through hoops to get some extra $$$ in your savings account, why not go with Rabo Bank instead? Get 2.5% on balances up to $250K for four months, then move the cash somewhere else.


      • I've done that already. Do you know of any other places I can park my money and earn a minimum of 2.25% other than Up and 86400 seconds?

        • +1

          If you've got a large bank balance, have you considered approaching your bank directly and negotiating a higher interest rate for a term deposit with them?


          Also, RateSetter might be a good option for you?

        • +2

          Macquarie 2.65%, Heritage Bank 2.50%, AMP Saver 2.36% and HSBC 2.35%. All for 4 months. Also Citibank 2.30% for 4 months but I have renewed it several times.

    • That's substantially easier than most other (relatively) high interest savings.

      ING for instance is deposit $1000 and do 5 transactions.

    • Free money I guess, but yeah - many people would need more bank account/s. Why would they want LESS money placed with them!? The only things I can think of, is they're not sure they can grow to handle 'more' of everything (customer queries, etc.), or think they're not capable of investing smart enough in order to pay interest on higher amounts. Maybe they're just taking it slow to begin with to be sure they can cope.

      Regardless, the best solution to date (for those not chasing some free money) is in my post higher up: https://www.ozbargain.com.au/node/505123#comment-8110154 - (at least it still was the last time I checked interest rates).

  • -3

    developed by Bendigo and Adelaide Bank Limited

    so its owned by them ok

    • so its owned


    • +7

      I don't think Bendigo 'owns' them (I'll need to check though) but they use Bendigo's financial backend/accounts etc in a wholesale format, seemingly similar to how Aldi uses Telstra's network.

      Simplifies the regulations & insurance side, and lets them work on the actual product & services.

      • We have a winner!

      • +1

        similar to how Aldi uses Telstra's network.

        Aldi only use a subset of Telstra's network.

        • +1

          We know you're obsessed with Boost jv because they use the FULL network, calm down. Switchblade88 should of used Optus as the example.

          • +1

            @Hunt The Coup: should have

            • +1

              @Ryk: It's good to know I am human. Since you have been so kind to help me out, capitals and full stops and using the apostrophe are something you lack on this site. If you're going to start correcting people for mistakes, don't make them yourself.

      • +3

        Yeah, you're correct. Up Money uses Bendigo's accounts but the app development is done by Ferocia

      • I dont mind this, maybe gives it more credibility. I am needing a transactions account with no monthly fee, so maybe I'll try this

        dont like that you have to do it on an app on the phone, my phone is terrible and old, probably doesnt even support the app

      • +6

        "Up is designed, developed and delivered through a collaboration between Ferocia Pty and Bendigo and Adelaide Bank Limited… Up a subsidiary of Bendigo and Adelaide Bank Limited"

        This is from the front page of their website. It is nothing like the relationship between Aldi Mobile and Telstra. Up is fully owned and managed by Bendigo Banking Group, while Aldi acts as an independent virtual operator paying fees for Telstra.

        • +1

          Why the hell everyone is upvoting switchblade is beyond me. He is wrong

    • +3

      In the website footer: Up is designed, developed and delivered through a collaboration between Ferocia Pty Ltd ABN 67 152 963 712 ("Ferocia") and Bendigo and Adelaide Bank Limited ABN 11 068 049 178, AFSL and Australian Credit Licence No 237879 ("Bendigo").

  • +3

    Does 'Up Everyday Accounts' fetch money automatically from 'Up Savers', like USaver & Ultra from UBank?

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